Sequoia India and Southeast Asia broadens check range for early-stage Surge program

As the storied venture firm tries to make its seed investments more relevant for a larger set of founders, it is broadening the check size for the Surge program.

The Surge program, which made $1 million to $2 million investments in early-stage companies in the region, will now make $3 million. The investment range can start from $300,000 to $500,000.

The firm, the most powerful and influential venture investor, realized that some of the early-stage startups it backs through the Surge program need more capital especially during the current market conditions.

Anandan, who previously served as the head of Google India and Southeast Asia and was one of the most prolific angel investors, dismissed the idea that the decision is a response to the current market conditions.

The firm doesn't want to take more ownership in the young startup as the size of its investment changes. There will be more flexibility to the floor range of the equity range against its investments.

There is a team called the Surge. The image was taken in India and Southeast Asia.

The Surge program was started by Sequoia in 2019. After evaluating hundreds of applications and meeting with them in person, the firm selects 15 to 20 startup every six months. The cohort is learning how to find their voice, best practices and establish relationships with peers.

The Surge program has supported 112 startups who have collectively raised over 1.5 billion in follow-on rounds. Surge was pre-launching 20% of the time when we worked with them.

Surge startup have built products and services for the world. Surge companies were building for the global markets in the most recent cohort. Doubtnut, Scaler Academy, Khatabook, Bijak, Classplus, Hevo Data, Juno, Atlan, BukuKas, Plum and Apna Club are some of the notable startup that came out of Surge.

The Surge cohort is not changing. The 15-20 number is what we prefer. cohort sizes will not change People who help firms with tech, marketing, and finances are some of the members of Surge. Keeping the cohort to its current size allows us to go very deep with our companies.

The Surge program gives participants access to an additional $2 million worth of perks, which include cloud credits, popular developer cards, and insurance and compliances services. These firms are connected with top investors for the Series A funding by Sequoia.

There was a dedicated fund for the Surge program. Earlier, it raised $195 million for the early-stage program, but now it will draw capital from the mothership. He said that you can be sure that we will invest more than ever.

Anandan said that even though the market downturn has caused tech stocks to fall to record lows, more young firms are applying to be in the Surge program and he hasn't noticed a decline in enthusiasm in the community.